Overview

• Coindoo reports 913 BTC worth about $107 million shifted to fresh addresses, while earlier CoinCentral coverage noted a separate 343.1 BTC move.
• Estimates of Bhutan’s sovereign stash vary by source, ranging from nearly 10,000 BTC to more than 10,500 BTC valued at roughly $1.1–$1.18 billion.
• CoinCentral cites past patterns where government-linked wallets moved coins before depositing to exchanges, primarily Binance, which has coincided with short-term sell pressure.
• Coindoo notes analysts see the transfers, alongside a cautious outlook following the Federal Reserve’s rate cut, as catalysts for potential volatility; Bitget’s Ryan Lee flagged a possible 5–8% dip.
• Bhutan’s holdings stem from state-backed mining through Druk Holding & Investments and an expansion with Bitdeer reported at about 600 megawatts of capacity.